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P.A.M. Transportation Services Announces Preliminary Results of Self Tender Offer

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P.A.M. Transportation Services (Nasdaq: PTSI) today announced the preliminary results of its modified "Dutch auction" tender offer to repurchase up to 600,000 shares of its outstanding common stock, which expired at 12:00 Midnight, Eastern Time, on Monday, December 30, 2013.

Based on the preliminary count by Computershare Trust Company, N.A. ("Computershare"), the depositary for the tender offer, approximately 758,864 shares were properly tendered and not properly withdrawn at or below the expected final purchase price of $20.50 per share, including shares that were tendered through notices of guaranteed delivery.

In accordance with the terms and conditions of the tender offer, the Company expects to acquire 675,000 shares at a final purchase price of $20.50 per share, for an aggregate purchase price of approximately $13,837,500. These shares represent approximately 7.8% of the Company's issued and outstanding shares as of November 29, 2013. The total amount of shares expected to be purchased in the tender offer includes the Company's right to increase the tender offer by up to two percent of our outstanding shares. The determination of the final number of shares to be purchased and the final price per share is subject to confirmation

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Posted-In: News Dividends Financing Buybacks Global

 

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